How To Buy a Property Using My Website
When you have chosen your desired property fil the form on the right site:
First Name, Last Name, E-mail, Phone, etc.
Check that all your information is correct and then hit "Submit." An email is sent to the website owner expressing your interest in the property.
You will be contacted within 24hrs. I will help you through the process and make it painless as it can be for you.
An Assignment Agreement is presented to the Seller. The Seller may accept, reject, or negotiate the Assignment Agreement.
I will assist you in getting the consent and closing the transaction.
Get in touch with your financial institution to approve your mortgage financing.
Get in touch with your legal representative to look over and execute your agreement.
Traditionally, most buyers will go with their realtor to the developer to buy a pre-sale condo unit, or they will have them do a search on the MLS (Multiple Listing Service) for a resale. The problem is that buyers are missing out on assignment opportunities where condo units are going for much less than pre-sale and resale prices. Their Assignment Professional will help them put in their offer, negotiate contract conditions and close the assignment transaction.
What is an Assignment Resale VS Assigning
Assignment Advantages Assignment My Unit
What is an Assignment
An Assignment is a legal sales transaction whereby the Original Purchaser (the "Assignor") of a property sells, and thereby transfers, their interest and obligations under the original contract to a new Purchaser (the "Assignee"). This assignment takes place during interim occupancy. The "Assignee" will assume all of the "Assignor's" duties and obligations under the original Purchase & Sale Agreement. These rights and obligations are stated in the original Purchase & Sale Agreement and include terms such as payments of mortgage, taxes and maintenance fees during interim occupancy. Upon Completion, the "Assignee" is granted the Title to the real property.
Not surprisingly, many buyers have been confronted with the complexity of understanding an assignment or not even heard of the term. Let's remember, the developers have usually been in charge of the assignment paperwork and they have little interest in selling something that they have already sold. Buyers should not be misled to believe that they would have more security by going directly to the developer. What they don't realize, is that when they purchase an assignment, they are still purchasing a unit from the developer with the same rights and conditions.
Buyers, who have educated themselves on the assignment process, benefit from the fact that they can buy new for less than re-sale and pre-sale pricing. They may also benefit from saving on taxes, such as GST, Land Transfer and City Tax not to mention the double taxation that takes place when they buy re-sale. Buying assignment means buying new which means they benefit from the 7 year Tarion Warranty Program. These elements are the key reasons why more and more buyers are taking advantage of Assignment opportunities. They realize they are buying for less and getting more!
Assigning My Unit
In terms of savings, buyers have been purchasing assignments for less than re-sale and they own a new, never been lived in Condominium with a 7 year warranty. Because of the complexity of an assignment sale and the difficulties imposed on the original purchasers, assignments have in the past not achieved the notoriety that was deserved.
With the increasing popularity of assignments in Canada, we saw the opportunity to educate and provide support for buyers who are interested in this niche market. Assignments are predicted to grow at a faster pace than re-sale.
Resale VS Assignment
With the costs of building materials and labour going up, and the traditional system of New Home Sales, Assignments are predicted to out sell Developers remaining unsold units. Pricing has increased dramatically since opening day and investors whom have found themselves over leveraged have been forced to reduce pricing accordingly. Developers on the other hand are hard pressed to reduce their pricing because of increased construction costs.